Kentucky Retirement Systems Purchases 4,625 Shares of Devon Energy Co. (NYSE:DVN)

Kentucky Retirement Systems boosted its position in shares of Devon Energy Co. (NYSE:DVNGet Rating) by 13.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,649 shares of the energy company’s stock after purchasing an additional 4,625 shares during the period. Kentucky Retirement Systems’ holdings in Devon Energy were worth $1,702,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Invesco Ltd. lifted its holdings in Devon Energy by 0.3% during the 3rd quarter. Invesco Ltd. now owns 25,897,429 shares of the energy company’s stock valued at $919,617,000 after purchasing an additional 84,866 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Devon Energy by 9.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 14,567,536 shares of the energy company’s stock valued at $517,294,000 after purchasing an additional 1,270,392 shares during the last quarter. GQG Partners LLC raised its stake in shares of Devon Energy by 87,102.0% in the third quarter. GQG Partners LLC now owns 13,912,210 shares of the energy company’s stock worth $493,965,000 after acquiring an additional 13,896,256 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Devon Energy by 9.3% in the third quarter. Geode Capital Management LLC now owns 12,175,618 shares of the energy company’s stock worth $431,370,000 after acquiring an additional 1,032,242 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Devon Energy by 1.3% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 10,662,546 shares of the energy company’s stock worth $378,627,000 after acquiring an additional 139,322 shares during the last quarter. 88.11% of the stock is owned by hedge funds and other institutional investors.

NYSE DVN traded up $0.98 during trading on Monday, reaching $63.54. 9,266,205 shares of the stock traded hands, compared to its average volume of 13,332,224. The firm has a market cap of $42.20 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.16 and a beta of 2.79. The stock’s 50-day moving average price is $57.84 and its 200 day moving average price is $48.87. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.69. Devon Energy Co. has a fifty-two week low of $20.14 and a fifty-two week high of $64.29.

Devon Energy (NYSE:DVNGet Rating) last issued its quarterly earnings data on Tuesday, February 15th. The energy company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.18. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Devon Energy had a net margin of 23.60% and a return on equity of 26.76%. Analysts anticipate that Devon Energy Co. will post 7.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Monday, March 14th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend was Friday, March 11th. This is a boost from Devon Energy’s previous quarterly dividend of $0.84. Devon Energy’s dividend payout ratio is 95.92%.

In other news, EVP Dennis C. Cameron sold 4,143 shares of the business’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $61.45, for a total value of $254,587.35. Following the sale, the executive vice president now owns 284,806 shares of the company’s stock, valued at $17,501,328.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Clay M. Gaspar sold 30,000 shares of the business’s stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $63.75, for a total transaction of $1,912,500.00. Following the completion of the sale, the chief operating officer now directly owns 765,202 shares in the company, valued at approximately $48,781,627.50. The disclosure for this sale can be found here. Insiders sold 164,251 shares of company stock valued at $9,827,922 in the last quarter. Corporate insiders own 0.80% of the company’s stock.

A number of equities analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Devon Energy from $54.00 to $62.00 in a research note on Thursday, February 17th. Benchmark downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, March 2nd. Piper Sandler boosted their target price on shares of Devon Energy from $67.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, April 7th. Morgan Stanley boosted their target price on shares of Devon Energy from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 25th. Finally, Barclays lifted their price target on shares of Devon Energy from $51.00 to $73.00 in a research report on Friday, March 18th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $58.67.

About Devon Energy (Get Rating)

Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Baarnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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